Overview

* Alcoa ( AA ) Q3 revenue of $3.0 bln missed analyst expectations, per LSEG data

* Co reports lower-than-expected adjusted loss per share for Q3

* Net income for Q3 rises to $232 mln, driven by asset sales and restructuring

Outlook

* Alcoa ( AA ) expects 2025 alumina production between 9.5 and 9.7 mln metric tons

* Alcoa ( AA ) expects 2025 aluminum production between 2.3 and 2.5 mln metric tons

* Company expects 4Q25 Alumina Segment EBITDA to improve by $80 mln

Result Drivers

* PRODUCTION INCREASE - Alumina production rose 4% due to reduced maintenance at Australian refineries, while aluminum production increased 1% with progress at the San Ciprián smelter

* REVENUE DECLINE - Revenue decreased 1% sequentially, affected by lower alumina prices and decreased trading activity

* NET INCOME DRIVERS - Net income of $232 mln was influenced by a gain from the Ma'aden joint venture sale and restructuring charges for the Kwinana refinery closure

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $2.99 $3.13

Revenue bln bln (9

Analysts

)

Q3 Beat -$0.02 -$0.04

Adjusted (6

EPS Analysts

)

Q3 EPS $0.88

Q3 Beat -$6 mln -$12.56

Adjusted mln (4

Net Analysts

Income )

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the aluminum peer group is "buy"

* Wall Street's median 12-month price target for Alcoa Corp ( AA ) is $40.50, about 8.1% above its October 21 closing price of $37.23

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)